Care Closet LBC

Analysis

Care Closet LBC is a registered charity in United States, based in Bellflower, CA. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Care Closet LBC reported income of $637k and spending of $608k, spending 95% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $289k to $637k (+120%), an average of +120% a year. The sharpest change came in the year to December 2023, when income rose by 120%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Care Closet LBC sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Reach Initiative Inc ($637k), Moldova World Childrens Fund Inc ($637k) and Companeros Four Corners Immigrant Resource Center ($637k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $36k (5.9% of expenses). At year end it held assets of $123k against liabilities of $0, net assets of $123k.